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We would all like to own a crystal ball to look into the future and now more than ever we are asked about what’s going to happen in the next few months. Well, I am not going to be as bold as to offer my own forecast (I like to be like Switzerland: neutral ;o) but here are some meaningful insights from Noah Rosenblatt at Urban Digs, an expert and a real estate data company I trust.
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You’ve been able to find your perfect house even during the pandemic and you’re now ready to make an offer, congratulations! Here is some advice on how to prepare an offer without expecting surprises.
1. How low can you go?
Not as much as you would think.
“Banks have rolled out mortgage forbearance programs, so most sellers are not in immediate danger of losing their home, even if they just lost their job or their income has been significantly cut,” says Caleb Liu, ...
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The National Association of Realtors reports that total existing-home sales dropped, nation wide, 8.5% in March. Despite the decline, home prices are still steady. The median existing-home price in March was $280,600, UP 8.0% from the same period in 2019. Total housing inventory at the end of March was down 10.2% from one year ago.
Many sellers had withdrawn their properties from ...
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